Overview

• Brent crude rose 0.79% to $66.64 per barrel, and WTI climbed 0.95% to $62.86, recovering from a 2% drop earlier this week.
• Kazakhstan announced it would prioritize national production interests over OPEC+ quotas, raising concerns about alliance cohesion and potential price wars.
• Reports suggest some OPEC+ members may propose accelerating output increases in June, adding to market uncertainty.
• China called for full U.S. tariff removal while the White House signaled willingness to reduce tariffs by up to 50%, though conflicting statements persist.
• Upcoming U.S.-Iran nuclear talks and fresh U.S. sanctions on Iran's energy sector contribute to supply uncertainty and market volatility.